RE: End of day tradesI see the trading in this stock as an extension of the Prognoz fiasco. There is a repositioning probably taking place. Games games games. One can only imagine the scheming going on between the various parties. The shareholders interests, are they the FIRST concern of managment BOD, or are they the second concern to these parties? Now that is an interesting question, as the last deal by their own news release seems suspect, and to quote:
"after assessing the views expressed by shareholders of the Corporation opposed to the spin-out of its 50% interest in the Prognoz Silver Project announced on May 28, 2008, the Company has determined to not proceed. High River will re-evaluate its alternatives regarding Prognoz, including a spin-out, with the view of determining an approach that would receive wide support from its shareholders. " AFTER???
Now here is some advice to our managment and BOD:
First look up your responibilities, maybe it has become a little bit cloudy for you folks. Too much vodka or exposure to the Russian climate???
Second, look at your news releases again: you say "AFTER assessing the views..." After is an interesting choice of words when you think about it and consider your functions and responsibilities. I always thought good managment and BOD folks were supposed to consider what they were doing BEFORE they did it. Since your primary job is to manage and protect and enhance SHAREHOLDER value, wouldn't this be a great idea. Or is it a novel concept? When you are considering now what you do with Prognoz, have you REALLY asked shareholders what their "views" are now or EVER? I for one have never seen any sort of query regarding what I as a shareholder desire and expect, and further would consider reasonable? Or are you going to try something again, only to find out possibly AFTER the fact that the shareholders object?
Lets start with the obvious, at least from my perspective, and I suspect many other shareholders, and as well I hope the related authorities who are watching this very carefully now, I can assure you, and the lawyers who also are viewing this situation.
How about getting High River Gold, the MOST value possible, by either developing Prognoz, or selling it to a party at arms length? Now there is a really novel concept. How about no dilution to any folks who have done nothing (you know, like those who were holding millions of shares of Roscan, none of which you new of course, right?), no extra perks of any sort for you folks or related parties or even those "not related" who have done nothing, you know, a straight up joint development or such where High River GAINS on the deal, NOT loses on the deal. Isn't that what is known as getting a good deal and what you folks are supposed to do? You know, put a deal together, where good means gaining NOT losing something. After all, WE, already pay you for that job. Its called managing the company, and same to the BOD. We are not paying you to cook up deals that benefit you or others at the expense of some shareholders of High River Gold.
I for one have said consistently here and other places, that I will not stand by and see an asset let go for highly questionable value. ESPECIALLY when you folks actually on the one hand tout its value, and on the next seem to want to dispose of it at a discount, not only to current value, but to potential huge increases that you yourselves continually elude to. Have I missed something here? So which is it???? I do not believe you can have it both ways, and I especially, since you say you are considering now AFTER the fact, the VIEWS of shareholders, object to your receiving any sort of extra benefit, beyond what you as management already are entitled to within the framework of High River Gold. That is where I am at.
I see great value here, (or why would I be here) but also the contradictions, which is why I believe this stock declined so much in the first place, and will not move until many perceptions of YOU FOLKS are changed. This can happen two basic ways: you do something that is seen as focused, great, enhancing etc, OR you leave. There certainly is discounted value here now(IMO), but it came at the expense of many, who previously trusted this managment and were I am sure let down by same. So if you are plotting Prognoz round two, my advice is to consider VERY carefully what you present this time in ADVANCE, and if in doubt, how about using the telephone, fax, internet, shareholder list, investor relations department (do you think they know what investors are saying???LOL) or a little PRE thinking and consultation, and keep the greed factor in check.IMO before making an even bigger blunder. Does it get any more simple than that?
It will be interesting to see what now happens. Shareholders could hardly excuse a poor Prognoz deal #2 now could they??? Do it right, and you get a much higher share price, its that simple.imo